BSTDB expands its SME support programme in Azerbaijan

News | 19-Feb-2008

BSTDB will make available a USD 5 million SME loan facility to Unibank (Azerbaijan).
The SME loan facility which carries a tenor of 5 years will be used by Unibank for providing sub-loans to small and medium-sized enterprises with the following purposes: creation, modernisation, expansion and diversification of industrial, production, agricultural or service-related facilities, as well as for export and pre-export financing of industrial or agricultural enterprises.

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Unibank is one of the largest private banks in Azerbaijan; the bank was established as a result of the merger of two private local banks and has been present in the market for more than 15 years. Unibank occupies leading positions in the key banking areas as well as in terms of its growth rate. EBRD is a shareholder in Unibank, and a shareholding agreement has been also signed with DEG of Germany. The bank co-operates actively with international finance institutions.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. With an authorized capital of SDR 3 billion (approx. USD 4,5 billion), the Bank supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects in the public and private sectors in its member countries. BSTDB is rated Long Term Baa1 and Short Term P2 by Moody’s.